Wall Street Closes in the Red After Fed's Decision to Keep Interest Rates

Wall Street closed in the red this Wednesday, and its main indicator, the Dow Jones Industrial Average, fell 1.63%, after the Federal Reserve (Fed) decided to keep interest rates unchanged, which remain in a range between 3.5 and 3.75%, and considered the repercussions of the [...]

Wall Street Closes in the Red After Fed's Decision to Keep Interest Rates

TL;DR

  • The Dow Jones Industrial Average fell 1.63%, the S&P 500 dropped 1.36%, and the Nasdaq decreased by 1.46%.
  • The Federal Reserve decided to keep interest rates unchanged at 3.5-3.75%.
  • The Producer Price Index (PPI) rose 0.7% in February, reaching 3.4% year-on-year.
  • The FOMC warned that economic uncertainty remains high, with unclear repercussions from Middle East events.
  • The conflict in the Middle East has led to an increase in global oil prices, with WTI crude reaching $96.32 per barrel.
  • Intel, Chevron, and JPMorgan Chase were among the few companies that closed in positive territory.

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